The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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| COLUMN 1 | COLUMN 2 | COLUMN 3 | COLUMN 4 | COLUMN 5 | COLUMN 6 | COLUMN 7 | COLUMN 8 | ||||
| VALUE | SHRS OR | SH/ | PUT/ | INVESTMENT | OTHER | VOTING AUTHORITY | |||||
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | (x$1000) | PRN AMT | PRN | CALL | DISCRETION | MANAGER | SOLE | SHARED | NONE |
| Acadia Realty Trust | COM | 004239109 | 39,372 | 1,427,544 | SH | DFND | 01,02 | 1,269,544 | 0 | 158,000 | |
| Alexander & Baldwin Inc. | COM | 014491104 | 31,420 | 873,500 | SH | DFND | 01,02 | 778,100 | 0 | 95,400 | |
| Alexandria R.E. Equities | COM | 015271109 | 21,461 | 291,000 | SH | DFND | 01,02 | 181,000 | 0 | 110,000 | |
| American Assets Trust | COM | 024013104 | 46,628 | 1,414,266 | SH | DFND | 01,02 | 1,270,633 | 0 | 143,633 | |
| American Campus Communities | COM | 024835100 | 34,467 | 945,607 | SH | DFND | 01,02 | 854,207 | 0 | 91,400 | |
| American Homes 4 Rent | COM | 02665T306 | 15,665 | 927,500 | SH | DFND | 01,02 | 813,600 | 0 | 113,900 | |
| Armada Hoffler Properties | COM | 04208T108 | 3,287 | 362,039 | SH | DFND | 01,02 | 319,739 | 0 | 42,300 | |
| Avalon Bay Communities | COM | 053484101 | 228,327 | 1,619,684 | SH | DFND | 01,02 | 1,367,284 | 0 | 252,400 | |
| Biomed Realty Trust Inc. | COM | 09063H107 | 58,532 | 2,897,642 | SH | DFND | 01,02 | 2,601,342 | 0 | 296,300 | |
| Boston Properties Inc. | COM | 101121101 | 253,292 | 2,188,083 | SH | DFND | 01,02 | 1,810,383 | 0 | 377,700 | |
| Camden Property Trust | COM | 133131102 | 97,436 | 1,421,796 | SH | DFND | 01,02 | 1,180,696 | 0 | 241,100 | |
| Chatham Lodging Trust | COM | 16208T102 | 16,271 | 705,000 | SH | DFND | 01,02 | 629,900 | 0 | 75,100 | |
| CubeSmart | COM | 229663109 | 32,096 | 1,785,074 | SH | DFND | 01,02 | 1,620,574 | 0 | 164,500 | |
| DCT Industrial Trust Inc. | COM | 233153105 | 1,111 | 148,000 | SH | DFND | 01,02 | 148,000 | 0 | 0 | |
| DDR Corp | COM | 251591103 | 57,106 | 3,413,377 | SH | DFND | 01,02 | 3,039,277 | 0 | 374,100 | |
| Douglas Emmett Inc. | COM | 25960P109 | 32,830 | 1,278,938 | SH | DFND | 01,02 | 1,139,938 | 0 | 139,000 | |
| Dupont Fabros Technology | COM | 26613Q106 | 57,958 | 2,143,416 | SH | DFND | 01,02 | 1,921,016 | 0 | 222,400 | |
| Empire State Realty Trust Inc. | COM | 292104106 | 34,043 | 2,266,500 | SH | DFND | 01,02 | 2,037,700 | 0 | 228,800 | |
| EPR Properties | COM | 26884U109 | 52,029 | 1,026,617 | SH | DFND | 01,02 | 789,417 | 0 | 237,200 | |
| Equity Lifestyle Properties | COM | 29472R108 | 59,104 | 1,395,281 | SH | DFND | 01,02 | 1,180,181 | 0 | 215,100 | |
| Equity Residential | COM | 29476L107 | 255,184 | 4,143,942 | SH | DFND | 01,02 | 3,530,342 | 0 | 613,600 | |
| Extended Stay America Inc | COM | 30224P200 | 43,159 | 1,818,000 | SH | DFND | 01,02 | 1,609,200 | 0 | 208,800 | |
| Extra Space Storage Inc. | COM | 30225T102 | 73,894 | 1,432,885 | SH | DFND | 01,02 | 1,274,085 | 0 | 158,800 | |
| Federal Realty Invs Trust | COM | 313747206 | 159,078 | 1,342,885 | SH | DFND | 01,02 | 1,086,585 | 0 | 256,300 | |
| Forest City Enterprises - Class A | COM | 345550107 | 71,134 | 3,636,704 | SH | DFND | 01,02 | 3,066,004 | 0 | 570,700 | |
| Gramercy Property Trust Inc | COM | 38489R100 | 30,102 | 5,226,000 | SH | DFND | 01,02 | 4,673,000 | 0 | 553,000 | |
| HCP Inc. | COM | 40414L109 | 170,727 | 4,299,357 | SH | DFND | 01,02 | 3,592,357 | 0 | 707,000 | |
| Health Care Reit Inc. | COM | 42217K106 | 122,575 | 1,965,287 | SH | DFND | 01,02 | 1,763,787 | 0 | 201,500 | |
| Hilton Worldwide Holdings Inc. | COM | 43300A104 | 61,077 | 2,479,800 | SH | DFND | 01,02 | 1,981,200 | 0 | 498,600 | |
| Host Hotels & Resorts | COM | 44107P104 | 134,855 | 6,322,337 | SH | DFND | 01,02 | 5,178,537 | 0 | 1,143,800 | |
| Kilroy Realty Corp. | COM | 49427F108 | 135,275 | 2,275,826 | SH | DFND | 01,02 | 1,940,426 | 0 | 335,400 | |
| Liberty Property Trust | COM | 531172104 | 70,271 | 2,112,792 | SH | DFND | 01,02 | 1,754,892 | 0 | 357,900 | |
| Macerich Company | COM | 554382101 | 71,165 | 1,114,912 | SH | DFND | 01,02 | 945,612 | 0 | 169,300 | |
| National Retail Properties | COM | 637417106 | 33,807 | 977,935 | SH | DFND | 01,02 | 876,935 | 0 | 101,000 | |
| Piedmont Office Realty Trust | COM | 720190206 | 64,599 | 3,662,072 | SH | DFND | 01,02 | 3,263,672 | 0 | 398,400 | |
| ProLogis Inc | COM | 74340W103 | 208,796 | 5,538,354 | SH | DFND | 01,02 | 4,651,254 | 0 | 887,100 | |
| Public Storage Inc. | COM | 74460D109 | 222,450 | 1,341,352 | SH | DFND | 01,02 | 1,114,352 | 0 | 227,000 | |
| Ramco Gershenson Properties | COM | 751452202 | 16,534 | 1,017,501 | SH | DFND | 01,02 | 933,701 | 0 | 83,800 | |
| Regency Centers Corp. | COM | 758849103 | 34,555 | 641,924 | SH | DFND | 01,02 | 579,524 | 0 | 62,400 | |
| Retail Opportunity Investments Corp. | COM | 76131N101 | 29,714 | 2,021,385 | SH | DFND | 01,02 | 1,798,385 | 0 | 223,000 | |
| Rexford Industrial Realty | COM | 76169C100 | 34,740 | 2,510,100 | SH | DFND | 01,02 | 2,253,400 | 0 | 256,700 | |
| RLJ Lodging Trust | COM | 74965L101 | 47,730 | 1,676,486 | SH | DFND | 01,02 | 1,491,886 | 0 | 184,600 | |
| Simon Property Group | COM | 828806109 | 502,324 | 3,055,125 | SH | DFND | 01,02 | 2,573,425 | 0 | 481,700 | |
| Strategic Hotels & Resorts Inc. | COM | 86272T106 | 1,573 | 135,000 | SH | DFND | 01,02 | 135,000 | 0 | 0 | |
| Taubman Centers Inc. | COM | 876664103 | 65,757 | 900,783 | SH | DFND | 01,02 | 801,683 | 0 | 99,100 | |
| Ventas Inc. | COM | 92276F100 | 148,362 | 2,394,869 | SH | DFND | 01,02 | 1,958,069 | 0 | 436,800 | |
| Vornado Realty Trust | COM | 929042109 | 105,878 | 1,059,199 | SH | DFND | 01,02 | 872,999 | 0 | 186,200 | |